Demand forecasting and planning help manufacturing companies face industry challenges
As a manufacturer, your demand forecasting drives it all. If your forecast is off, your entire supply chain bleeds money. Product and service demands are increasingly hard to predict, and buyers wield unprecedented knowledge and control through digital media and other mechanisms. Add to that seasonality, halo, and cannibalization effects and your have got a real challenge. Manufactures much become more nimble and customer-centric.
Manufacturers struggle to balance supply with demand. They sacrifice working capital, customer satisfaction, and profit to mitigate inventory errors that result from bad forecasts:
- New product introductions
- Lengthy lead time for raw materials
- Difficulty integrating time-series forecasting with workforce knowledge
- Disparate and unintegrated data
- Spreadsheet limitations
The days of building spreadsheet models are over. No more “my version” versus “your version” of the forecast, labor hours dedicated to formatting documents, manual and painstaking what-if analyses, and siloed Marketing, Procurement, Demand Planning, and Finance activities. With Vanguard, manufacturing organizations gain a consolidated view of demand and supply across all facilities, product families, and lines of business.
Vanguard Predictive Planning™ for Manufacturing is a unified cloud-based planning system that automates demand forecasting processes while applying best-in-class analytics to optimize capacity planning, production throughput, and service and inventory levels. Vanguard easily explodes Bill of Materials (BOM) from finished goods forecasts and provides complex portfolio analyses and what-if testing using Monte Carlo simulation. In fact, Vanguard is one of the only forecasting & planning platforms built with state-of-the-art modeling and simulation capabilities to holistically analyze varying courses of action and outcome probabilities under unlimited scenarios.
The results are dramatic: increased revenues, profitability, and customer satisfaction, all while reducing safety stock and other inventory related expenses. Download to learn about the features organizations can leverage with Vanguard Predictive Planning™ for manufacturing.